Most municipalities need to borrow long term funds from time to time to enable them to build the infrastructure necessary in their communities. This is done through the Municipal Finance Authority of BC (MFA), which is a 'AAA' rated financial institution organized to finance local governments in B.C.
All municipal borrowing from the MFA in the form of long term debentures is done by regional districts on behalf of their member municipalities. The regional district is responsible for repaying that debt to the MFA and the municipalities, in turn, repay the regional district.
The Regional District of Bulkley-Nechako has debentures outstanding for the following municipalities within its boundaries:
- Smithers
- Telkwa
- Houston
- Burns Lake
- Fraser Lake
- Vanderhoof
- Fort St. James